2014 palm springs commerical real estate update

2014 Palm Springs Commercial Real Estate Update

Worldwide Media and Branding

USA TODAY

Palm Springs,

remixed: A retro classic reborn

Travel & Leisure

Magazine

Palm Springs

Named one of America’s

Top Romantic

Winter Destinations

Frommers.com

Palm Springs

named one of Top 2014

Travel Destinations

TripAdvisor.com

Palm Springs named in Top 25

“Travelers’ Choice”

Destinations

The Biggest Stars in the World Love Palm Springs!

Palm Springs is the hippest, most happening resort city in SoCal and beyond!

Economic DevelopmentAiport, Hotels, Incentive Programs, Indian/I-10

Economic Development Activities

• Palm Springs International Airport

• Downtown Issues

• Hotels

• Incentive Programs

• Special Focus Incentive Area

• iHub/Accelerator Campus

• Indian/I-10 Area

• Downtown Revitalization Project

It’s been a tremendous year in economic development in Palm Springs!

Toronto

Houston

Winnipeg

New York JFKSan Francisco

Access to over 500 cities every year.

Asia/ Pacific

Mexico & Latin America

UK & Europe

Northeast & Mid-Atlantic

Southeast & Florida

2007 2012 07-12Market Psgrs Psgrs Chng

Tucson 2,178,909 1,710,638 -21%

Savannah-Hilton Head 992,569 789,256 -20%

Pensacola 832,127 740,852 -11%

Palm Springs 805,546 866,095 8%

Myrtle Beach 804,789 722,775 -10%

Sarasota-Bradenton 782,459 637,260 -19%

Vail 231,691 167,901 -28%

Aspen 182,198 214,892 18%

Totals - All but PSP 6,004,742 4,983,574 -17%

TOP 100 US Airports (Mil) 716.8 688.2 -4%

2007 Record Year Comparisons

(Source: FAA Enplaned Passengers)

HospitalityIncentive Program, New Hotels

Hotel Remodel Projects

HILTON AND HARD ROCK

North EndHotel Remodel Projects

Other Hotel Projects

Arrive Hotel

Port Lawrence

Dolce Resort

Incentive Programs

Special Focus Incentive Zone Program

Southern Focus Area Northern Focus Area

Incentive Program

Incentive Program – Hacienda Cantina

Industrial DevelopmentiHub and I-10

Coachella Valley iHub Report

• 20 Businesses Currently in Program

• 3 Clients Chosen to Present at “World’s Best Tech” Conference

• Recognized as Best Practices iHub by State, Co-Authored California iHub Plan

• Partnering with National Renewable Energy Lab in Golden, CO for Tech Transfer

iHub Accelerator Campus

Three Year Commitment to Fund Facility Improvements and Provide a Match for Federal EDA Grants

Indian/I-10 Area

Downtown StuffMarilyn, Plaza Theatre, Historic Buildings, Uptown, Trolley

Forever Marilyn

Plaza Theatre

Historic Buildings

Edwards Harris Architecture and Design Center

Uptown Design District

With an astounding 90% participation rate among its merchant base, the Uptown District undertook its third year of managing its own branding with a brochure, billboard and Airport advertising campaigns which have solidified this area as the “chic” retro retail area, and garnered worldwide press.

Trolley (these just sample images – don’t get too excited)

36© Copyright Symblaze, Inc. 2013 www.symblaze.com

Downtown ProjectProgress Report, Litigation, Vote!

Downtown ProjectDemolition Progress in 2013

Downtown ProjectDemolition Completed in January

John S. RaymondDirector of Community & Economic

Development

City of Palm Springs

office phone:  760.323.8228

cell phone:      760.902.1903

e-mail:  John.Raymond@palmspringsca.gov